World Bank proposes $200m credit facilities for the housing sector

 The Country Director, World Bank (WB), Najy Benhassine in a meeting with the Federal Minister for Finance and Revenue, Shaukat Tarin shared the Bank’s proposed $200 million credit facilities for various interventions in the housing sector.

The Finance and Revenue, Shaukat Tarin, chaired the meeting at the Finance Division with Chairman Naya Pakistan Housing & Development Authority, Lt-General Anwar Ali Haider (Retd) and WB Country Director to consider the possibility of providing additional funds for housing finance in Pakistan.

Special Assistant to Prime Minister on Finance and Revenue, Dr Waqar Masood was also present in the meeting, the statement added.

The World Bank Country Director stated that the bank would support the government’s efforts to boost the housing sector, especially for low cost housing.

The Finance Minister appreciated the support of the World Bank and emphasized upon the importance of housing sector in reviving economic growth.

The Finance Minister underlined that the housing sector is the priority sector of the government and asked all the relevant officials to finalize all the technical details and complete the relevant actions relating to the proposed World Bank funding within next few days.